While short-term profit optimization strategies are attractive to managers, it appears that undue emphasis on short-term profitability may adversely affect long-term profitability of a firm and development of an industry. The authors discuss limitations of short-term measures of profitability in supermarket management. They suggest formalizing the planning processes of the firm using a set of proxy indicator variables to represent relevant critical success factors.
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Curhan et al. (1986) studied this question.
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